Long-Term Care Insurance Provides the Aged Options
With the increasing life expectancy, more people
will likely spend a year or longer in some sort of adult care facility. In
fact, according to a 2006 Kaiser Foundation study, over five million people
ages 18-64 need some type of long-term care (LTC) in their lifetime.
Many people forego LTC insurance because of the
price tag. But with a small adjustment to your standard of living today, you
can guarantee yourself a more comfortable tomorrow. At InsureMe, we will
connect you with agents on our network who can get you the right coverage at a
price that won't break your bank.
Don't neglect your future happiness to save a few
bucks today. Be proactive and ensure you spend your golden years in a dignified
manner with LTC insurance.
What is Long-Term Care Insurance?
Long-term care insurance, also known as LTC
insurance provides coverage should you need assistance with activities of daily
living (ADLs), such as bathing, dressing and eating. It also covers supervision
for those who are mentally impaired. It includes care received in a nursing
home, assisted living, adult-daycare facility or at home from a health aide.
Who Should Buy Long-Term Care Insurance?
LTC insurance is not for everyone. If your net
worth is extremely high (above 1.5 million, excluding your home), you should be
able to afford to pay out of pocket for long-term care. Conversely, if you
expect to qualify for Medicaid by the time you're 65, the government will
subsidize the cost of care.
When Should I Buy Long-Term Care Insurance?
Sooner is better. If you've just celebrated your 50th
birthday, you don't need to run out and get LTC insurance tomorrow. But it's
time to start weighing your options.
Long-term care is expensive. It can eat into the
money you intended for your children or you set aside for retirement.
At InsureMe we want to help you find the right
insurance policy to protect your future and preserve your family's finances by
connecting you with agents on our network.
